JPMorgan Chase & Co. Sells 232,534 Shares of Acelyrin, Inc. (NASDAQ:SLRN)

JPMorgan Chase & Co. lowered its stake in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 27.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 618,127 shares of the company's stock after selling 232,534 shares during the quarter. JPMorgan Chase & Co. owned 0.62% of Acelyrin worth $1,941,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Acelyrin in the third quarter worth about $50,000. HighTower Advisors LLC bought a new stake in Acelyrin during the third quarter valued at approximately $50,000. Intech Investment Management LLC increased its holdings in Acelyrin by 71.0% during the fourth quarter. Intech Investment Management LLC now owns 26,587 shares of the company's stock valued at $83,000 after buying an additional 11,040 shares during the last quarter. American Century Companies Inc. raised its position in Acelyrin by 146.0% in the fourth quarter. American Century Companies Inc. now owns 78,868 shares of the company's stock worth $248,000 after acquiring an additional 46,802 shares during the period. Finally, Barclays PLC boosted its stake in shares of Acelyrin by 208.8% during the 3rd quarter. Barclays PLC now owns 96,408 shares of the company's stock worth $475,000 after acquiring an additional 65,188 shares during the last quarter. Institutional investors own 87.31% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SLRN. Citigroup lowered their target price on Acelyrin from $6.00 to $3.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. HC Wainwright lowered their price objective on Acelyrin from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $9.60.

Acelyrin Stock Up 0.5 %

SLRN stock traded up $0.01 during trading on Monday, reaching $2.18. The company's stock had a trading volume of 275,327 shares, compared to its average volume of 1,207,597. The company's fifty day moving average is $2.47 and its 200-day moving average is $3.34. The company has a market capitalization of $219.98 million, a P/E ratio of -0.89 and a beta of 1.12. Acelyrin, Inc. has a 1 year low of $1.85 and a 1 year high of $7.25.

Acelyrin (NASDAQ:SLRN - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.07. Analysts anticipate that Acelyrin, Inc. will post -2.53 earnings per share for the current year.

Insider Buying and Selling at Acelyrin

In other news, CEO Mina Kim sold 17,986 shares of Acelyrin stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $2.74, for a total value of $49,281.64. Following the sale, the chief executive officer now directly owns 671,753 shares of the company's stock, valued at approximately $1,840,603.22. The trade was a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.60% of the company's stock.

Acelyrin Profile

Acelyrin, Inc, a clinical biopharma company, focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines. The company's lead product candidate is izokibep, a small protein therapeutic designed to inhibit IL-17A with high potency, which is in Phase 3 clinical trials for use in the treatment of Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as in Phase 2 clinical trials for use in the treatment of Axial Spondyloarthritis.